Raymond James Equities Analysts Boost Earnings Estimates for Barrick Gold Co. (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Research analysts at Raymond James upped their Q3 2024 earnings per share (EPS) estimates for shares of Barrick Gold in a report released on Monday, September 23rd. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings of $0.53 per share for the quarter, up from their previous estimate of $0.47. The consensus estimate for Barrick Gold’s current full-year earnings is $2.27 per share. Raymond James also issued estimates for Barrick Gold’s Q1 2025 earnings at $0.63 EPS, Q2 2025 earnings at $0.65 EPS, Q3 2025 earnings at $0.65 EPS, Q4 2025 earnings at $0.68 EPS and FY2025 earnings at $2.61 EPS.

ABX has been the topic of several other research reports. Canaccord Genuity Group boosted their price target on Barrick Gold from C$31.00 to C$33.00 in a research note on Tuesday, July 23rd. Eight Capital boosted their target price on Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th. Finally, Argus raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$30.18.

Barrick Gold Stock Down 3.4 %

ABX stock opened at C$27.36 on Thursday. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 14.54. The company’s 50-day moving average price is C$26.24 and its 200 day moving average price is C$24.07. Barrick Gold has a 52 week low of C$18.65 and a 52 week high of C$28.67. The company has a market cap of C$47.88 billion, a P/E ratio of 23.62, a P/E/G ratio of 1.94 and a beta of 0.49.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings results on Monday, August 12th. The basic materials company reported C$0.44 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.36 by C$0.08. The business had revenue of C$4.33 billion for the quarter, compared to analysts’ expectations of C$4.12 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%.

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $0.138 dividend. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, August 30th. This represents a $0.55 annualized dividend and a yield of 2.02%. Barrick Gold’s dividend payout ratio (DPR) is presently 46.15%.

Insiders Place Their Bets

In other news, Director Christopher Lewis Coleman sold 121,334 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of C$28.10, for a total value of C$3,409,485.40. In other Barrick Gold news, Senior Officer Riaan Grobler sold 94,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of C$18.99, for a total value of C$1,784,693.40. Also, Director Christopher Lewis Coleman sold 121,334 shares of Barrick Gold stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of C$28.10, for a total value of C$3,409,485.40. Insiders sold a total of 235,334 shares of company stock worth $5,741,477 over the last ninety days. 0.61% of the stock is owned by company insiders.

Barrick Gold Company Profile

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties in Canada and internationally. The company also explores and sells silver and energy materials. It has ownership interests in producing gold mines located in Argentina, Canada, Côte d'Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States.